EU Commission: orientations for a new economic governance. “Debt sustainability, inclusive growth, investment and reforms”

(Brussels) Strengthening debt sustainability and enhancing sustainable and inclusive growth through investment and reforms. These are the objectives outlined by the European Commission in its Communication adopted today which sets out the “orientations for a reformed EU economic governance framework”. “The orientations seek to ensure that the framework is simpler, more transparent and effective, with greater national ownership and better enforcement, while allowing for reform and investment and reducing high public debt ratios in a realistic, gradual and sustained manner”. Speaking on behalf of the Commission in the press room of the Berlaymont Palace were the two economic portfolio holders, Vice-President Valdis Dombrovskis and Commissioner for Economy Paolo Gentiloni. Under the reformed framework, the Commission intends to “help build the green, digital and resilient economy of the future, while ensuring the sustainability of public finances in all Member States, in line with President von der Leyen’s 2022 State of the Union address”. The two Commissioners said the Communication is the result of a long process that started in late 2019. It will now be up to Member States to examine it. Legislative proposals to implement the orientations are expected in early 2023.
Gianni Borsa